A couple of days ago, I had tea with an old fren and talked about how he is still investing in encryption. Suddenly, he became disheartened: "Last year I went all in on mainstream tokens, two million has now shrunk to two hundred thousand..."

I poured him another cup of tea and couldn't help but laugh: "If I had asked you to only take 300,000 to test the waters back then, would you have felt like I was insulting your intelligence?"

He chuckled bitterly and waved his hand: "At that time, my head was filled with only two words: get rich quick, and I couldn't listen to any advice at all."

That's how this market is; unless you pay your tuition with your own hands, no one can truly understand it.

"Don't you think..." he lowered his voice, "my account seems to be targeted by the dealer? Every time I buy, it crashes, and just after I cut my losses, it skyrockets."

I put down my teacup and slowly shook my head: "Tens of trillions of funds are rolling in this market, and our little position can't even make a splash. Still feeling targeted? That's just scaring yourself."

"So how can I earn the money back now?" he asked urgently.

"How to make money? You might not believe it—it's simple to the point of boring." I paused, "The hard part has never been finding some magical strategy; the hard part is restraining yourself. Some people lose money in quantitative trading and start doubting life, while others naively invest regularly and end up making a fortune. Where lies the difference? It's in whether you can 'stay put.'"

"So which coin should I buy now?"

I asked him back: "Can you manage not to watch the market? When your account is down 30%, can you still sleep peacefully?"

He was momentarily at a loss for words.

Too many people spend their energy looking for the next thousand-fold coin, thinking that not understanding the white paper or not studying complex indicators is unprofessional enough. But trading is more like sailing through stormy seas— the real test is not how much technology you understand, but whether you can keep your composure when the market is in turmoil.

After going through a complete bull and bear cycle, I finally understand: the most valuable thing in this circle is not some secret information, but the simplest few iron rules - don't be greedy, don't panic, and don't operate chaotically.